UKIE Policy Paper - Access to Finance

The games and interactive entertainment industry provides a myriad of successful and sustainable business models many of them digital, which deliver to consumers easy access to the products that they want – from £40 boxed products and cloud-based offerings to free to play apps, casual and social games.

The UK’s games and interactive industry is capable not only of delivering digital entertainment which is scalable internationally and which can therefore contribute to our national GDP, but which can also provide high quality career opportunities for the next generation.

Recent UK global successes include ‘Batman: Arkham City’ developed by North London studio Rocksteady Studios and ‘Football Manager 2012’ by Sports Interactive, also based in London. This is not to mention web based successes like Moshi Monsters and online role playing game Runescape, with over 100 million registered users between them.

This all equates to one of the biggest, most agile, and most diverse creative industries in the UK. We have the biggest consumer market for video games in Europe, valued at close to £3 billion in 2011.

Our successful UK industry sits within a strong global games and interactive entertainment market. Global revenues from sales of games and interactive entertainment software are reportedly $50 billion per annum (over £30 billion) and are expected to rise to $87 billion (£54 billion) by 2014. PricewaterhouseCoopers projects that the industry will grow at an average annual rate of 8% between 2010 and 2014 - faster than film, music and TV.

Ours is clearly a burgeoning and increasingly popular industry, with the potential to continue generating billions of pounds for the UK economy.